I know very few people here really care... - page 3.

revans

sr. member

Activity: 336

Merit: 250

Quote from: Gordonium on November 18, 2013, 07:48:03 PM

Even theoretically there will never be more than 21 million Bitcoin. In order it to became even relatively adopted money the price will have to go to the "ridiculous" heights.

But that isn't going to happen, get off the kool aid. Bitcoin isn't really seeing wider acceptability as a day to day currency, but there is a lot of effort going into making it a better tool for speculation. Like I say, it will end badly.

uyo

newbie

Activity: 36

Merit: 0

Quote from: revans on November 18, 2013, 07:44:45 PM

...but this ridiculous price bubble will destroy Bitcoin and probably all other cryptocurrencies when it pops. For 99.99% of the Bitcoin community this is irrelevant as you are involved purely to profit, you have no ideological interest in the underlying concept, but for those who are genuinely interested in alternative currency models it's a pending disaster.

The speculators will move on when it crashes, the winners will take their winnings and the losers will lick their wounds. The people left behind who are ideologically invested and not just financially so will find they've been left salted earth.

I don't think so. China is celebrating Bitcoin. I think that timing with hearings today isn't accidental. After the bubble, Bitcoin is much safer investment than it was ever before.

revans

sr. member

Activity: 336

Merit: 250

Quote from: xenon481 on November 18, 2013, 07:45:52 PM

This was said about the previous 2 bubble-crash cycles as well.

Those were arguable the result of poor exchange architecture. I don't think there has been a real crash yet, but one is coming and because of this huge price run up its going to be messy. Very, very messy.

sgbett

legendary

Activity: 2576

Merit: 1087

+110% in china lol.

oh aye, a correction is coming, I'm sure I'm not the only one that will just hold tight through it though.

(like i did in april)

(like i did in july '11)

mgio

hero member

Activity: 546

Merit: 500

You obviously weren't around in April.

In Januuary we were at about $12. In April we soared to $266, followed by a huge crash. Bitcoin had gone up over 20 times in just about 4 months, the vast majority of that in early April itself.

We have just seen Bitcoin go up about 7 times in value.

It's true, the value is increasing exponentially. Even the rate it increasing and I predict a crash within the next 3 days.

But it certainly won't destroy bitcoin.

Gordonium

sr. member

Activity: 392

Merit: 250

Even theoretically there will never be more than 21 million Bitcoin. In order it to became even relatively adopted money the price will have to go to the "ridiculous" heights.

YoYa

hero member

Activity: 809

Merit: 501

Always verify deals with me through my public key!

Take time to enjoy the moment, this is only the third time in my life I've got to enjoy the madness. Today stands out however, US reg looks good, CNY 1000USD broken, possible CNY gold parity before the day is out.....not exactly an everyday occurance.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: revans on November 18, 2013, 07:44:45 PM

...but this ridiculous price bubble will destroy Bitcoin and probably all other cryptocurrencies when it pops. For 99.99% of the Bitcoin community this is irrelevant as you are involved purely to profit, you have no ideological in the underlying concept, but for those who are genuinely interested in alternative currency models it's a pending disaster.

The speculators will move on when it crashes, the winners will take their winnings and the losers will lick their wounds. The people left behind who are ideologically invested and not just financially so will find they've been left salted earth.

This has been said forever.

Its just the way Bitcoin works. It bubbles, crashes to a higher point than when it started, then everybody says its dead, and a couple of months later we're back at all time highs both in terms of price and adoption.

The speculator's aim to profit just provides further liquidity & gets us some press coverage. No harm done.

antimattercrusader

sr. member

Activity: 308

Merit: 250

I'm sure we're going to have a major correction at some point, but it won't destroy bitcoin.

xenon481

sr. member

Activity: 406

Merit: 250

This was said about the previous 2 bubble-crash cycles as well.

revans

sr. member

Activity: 336

Merit: 250

...but this ridiculous price bubble will destroy Bitcoin and probably all other cryptocurrencies when it pops. For 99.99% of the Bitcoin community this is irrelevant as you are involved purely to profit, you have no ideological interest in the underlying concept, but for those who are genuinely interested in alternative currency models it's a pending disaster.

The speculators will move on when it crashes, the winners will take their winnings and the losers will lick their wounds. The people left behind who are ideologically invested and not just financially so will find they've been left salted earth.

Topic: I know very few people here really care... - page 3. (Read 4219 times)